News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/kERhNpX24T
  • 🇫🇷 Unemployment Benefit Claims (SEP) Actual: -15.2K Previous: -171K https://www.dailyfx.com/economic-calendar#2020-10-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 72.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vSpkpJR5DJ
  • Heads Up:🇫🇷 Unemployment Benefit Claims (SEP) due at 11:00 GMT (15min) Previous: -171K https://www.dailyfx.com/economic-calendar#2020-10-27
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.36% Silver: 0.20% Gold: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/R4iP2hBi7y
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/opRjJQoGPZ
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.21% 🇯🇵JPY: 0.17% 🇳🇿NZD: 0.14% 🇬🇧GBP: -0.00% 🇪🇺EUR: -0.01% 🇨🇭CHF: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sbn9fdKRMA
  • If you're in the UK or Western Europe this will be an hour earlier than previously because of the clocks going back... https://t.co/mhvbYLCAkA
  • PBoC to remove counter-cyclical factor in Yuan fixing
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.14% Wall Street: 0.01% FTSE 100: -0.20% Germany 30: -0.78% France 40: -1.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Q6UKBovHvF
Merkel Comments Send EUR/USD to Six-Month High

Merkel Comments Send EUR/USD to Six-Month High

2017-05-22 14:59:00
Martin Essex, MSTA, Analyst
Share:

Talking Points

- Chancellor Angela Merkel described the Euro as “too weak” for Germany.

- In response, the common currency soared.

- Check out the DailyFX Economic Calendar and see what live coverage of key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

German Chancellor Angela Merkel gave the Euro a boost Monday, saying it is “too weak” because of the European Central Bank’s monetary policy. Speaking to schoolchildren in Berlin, she said “The Euro is too weak… due to the ECB’s policy and, with this, German goods are comparatively cheap”.

Her comments follow persistent criticism of the ECB’s loose monetary policy by her finance minister Wolfgang Schaeuble, who has said that it increases the risk a new global financial crisis – a sentiment that ECB President Mario Draghi has consistently denied.

Following the Chancellor’s comments, EUR/USD surged to its highest level since November 9 last year.

Chart: EUR/USD Daily Timeframe (November 2016 – May 2017)

Merkel Comments Send EUR/USD to Six-Month High

Chart by IG

The Euro also climbed against the British Pound, which again failed to make significant progress above the $1.30 level.

Chart: EUR/GBP Five-Minute Timeframe (May 22 Intraday)

Merkel Comments Send EUR/USD to Six-Month High

Chart by IG

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

If you’re looking for trading ideas, check out our Trading Guides; they’re free and updated for the second quarter of 2017

If you’re looking for ideas more short-term in nature, check out the IG Client Sentiment Data

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES